John's company has taken advantage of the prevailing low interest rate environment to raise new financing. It issued bonds on January 1, 2008, which mature on December 31, 2030 and have a par value of $1,000 and a coupon rate of 6%. Coupon payments are made semi-annually. (i) What would the value of the bonds be on June 30,2018 , if interest rates had risen to 12%? (9 marks) (ii) What would be their value on December 31,2022 , if interest rates had fallen to 4% ? (9 marks) (iii) If the bonds had a value of $945.00 on June 30,2025 , what would be their yield to maturity on that date? (7 marks)